Typical Colorado mortgage payment
The median home price in Colorado is roughly $545,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $4,310 | $2,926 |
| 5.50% | $4,453 | $3,094 |
| 6.00% | $4,599 | $3,268 |
| 6.50% | $4,748 | $3,445 |
| 7.00% | $4,899 | $3,626 |
| 7.50% | $5,052 | $3,811 |
| 8.00% | $5,208 | $3,999 |
At 6.50% over 30 years, a $545,000 home in Colorado costs about $3,445/month in principal & interest.
What affects your Colorado payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.